Posted by: Toby Schifsky, National Director of Real Estate Education
Updated: July 31, 2017 | Published: December 30, 2014
Should your New Year’s resolution be to finally write your own career success story in real estate?
Starting a new career is often risky. But staying in an unsatisfying career shouldn’t be an option either. When you think about your career, are you in the position and the place you imagined you would be at this point in your life? Does the following sound familiar?
Over the years at your corporate job, you have had several small promotions, performed hundreds of mundane tasks, and been forced to work with people you don’t particularly like or care for. Slowly, you’ve developed a massive lack of confidence in your organization’s leadership, and you now find yourself anticipating the end of your work day while you are still on the drive in.
Now may be the time to take back your life and your future by making a calculated move into a real estate career. The markets have turned around, and current short-term and long-term indicators are looking positive for real estate. With the right planning and education, you could be earning your first real estate commission in less than three months! But don’t quit your day job just yet. Here are three easy questions you need to answer for before you make your move.
Am I in a position to quit my job and start my real estate career, and do I have six to nine months of financial reserves on hand?
If you have the luxury of available time and a financial cushion, you can dedicate yourself to a full-time education and licensing experience that could lead to earning your first commission in less than three months! Most managing brokers agree that going full time is the fastest way for new licensees to build their real estate career. However, you can expect at least six to nine months of dedicated work before your income stabilizes.
Should I complete the licensing process, which includes meeting an education requirement and passing the state licensing exam, while currently employed in a full-time job?
Most states require your licensing education to be completed and a state licensing exam to be passed before you can earn a commission. Many people continue to work at their existing job while completing their education on nights and weekends. They then successfully transition into a full-time career in real estate after several months of part-time effort.
Do I have a group of neighbors, friends, and family who would be excited for me to gain their trust and be their professional real estate resource?
Those people who have a large sphere of friends, family, and past coworkers tend to quickly ramp up business and do extremely well. There are two general qualities clients seek before they will do business with you. They need to like you, and they need to trust you. We assume your sphere already likes you, and with the right education, you can demonstrate a level of knowledge that will evoke their trust as well. Once this occurs, your sales and commission pipeline will fill, your career will take off, and you will become this year’s success story!
There may never be a perfect time to make a career change. It takes hard work and requires serious dedication. But if you've been thinking for a while about earning a license and changing the course of your professional life, now may be the right time to make your move to a career in real estate.